Lafarge Africa Plc released its Q4 2022 Audited results for the period ended December 31^st, 2022.

Key Highlights

• Revenue grew by 27.3% from N293.09bn to N373.25bn
• Profit before tax stood at N68.31bn
• Profit after tax stood at N53.65bn
• Share Price Currently Stands at N25.60k

Strong Operating Profit Growth Year on Year 

• Net Sales up 27.3% vs PY; Recurring EBIT up 29.3% vs PY and Net Income up 5.2% 
• Robust Free Cash Flow of N71.9bn 
• Strengthened Balance Sheet with net cash position of N 81.8bn 
• Net Income constrained by foreign exchange translation impact 
• Continued focus on Health and Safety; and acceleration of our sustainability initiatives

Performance Overview 

FY 2022 Financial Highlights

Khaled El Dokani, CEO of Lafarge Africa, commented: “In 2022, we recorded 27.3% and 29.3% improvement in net sales and recurring EBIT respectively, compared to FY 2021 results. The worsening exchange rate situation led to revaluation losses, thereby constraining our Net Income growth to 5.2%. We remain committed to our sustainability ambitions by utilizing affordable clean energy in our operations and optimizing our green logistics strategy; among other initiatives that are in alignment with our net zero pledge journey’’.

2023 Outlook

• Good demand momentum is expected in 2023, albeit moderated due to the impact of the general elections. 
• We will continue to maximize volume opportunities across our markets and actively manage our costs. 
• We will consolidate our efforts on sustainability.